All-cash offers increase a homebuyer's likelihood of winning a bidding war ten-fold. That's not great news for LOs.
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Hello, LOs!
In much of the country, you need to wheel in suitcases full of cash to buy that new house.
All-cash offers increase a homebuyer's likelihood of winning a bidding war ten-fold. That's not great news for LOs, who are starting to see refi business wane. One LO in Pennsylvania told me one of her clients has lost about a dozen consecutive bids to cash buyers in the last two months.
So, LOs, my question to you is this: Has the competition with cash buyers affected your book of business? What are you doing to keep your purchase clients in the game when competition from cash buyers is this fierce? What's happening with your real estate agent clients?
And thank you all very much for sharing what you'd like to see us at HousingWire report more on. Here's a very quick sampling of some submissions that caught my eye:
The impact of the GSEs' 7% cap on investment properties
The average U.S. mortgage rate remained essentially unchanged last week, rising by just one basis point to 3.18%, according to Freddie Mac's Primary Mortgage Market Survey.
Qualia Post pairs automation and a dedicated service team for mortgage lenders to take the hassle out of document fulfillment from real estate partners. See how Qualia can work for you. Learn More!
As lenders adjust to evolving risk perspectives and perhaps even enhanced compliance regulations, they need to be able to react in real time and make the necessary changes quickly. Leveraging technology can help. Presented by DataVerify
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